After collecting just $264 on what has been called “the lowest-grossing film of 2012,” Manhattan independent filmmaker Lawrence Robbins will now have to pay more than $1 million to settle charges that he illegally profited off two local biotech acquisitions to fund his film production company.

Robbins, who produced the 2012 Christian Slater horror film “Playback (Fantastic Fist Blood)” along with partner John Michael Bennett, was charged Monday by the Securities and Exchange Commission with insider trading on confidential information regarding the acquisitions of Millennium Pharmaceuticals in 2008 and Sepracor Inc. in 2009. Bennett and his friend Scott Allen, who worked at a consulting firm, were charged last week, and have pled guilty.

According to a statement from the SEC, Allen was privvy to confidential information in advance of the two acquisitions through his job as a business consultant. In 2008, he allegedly tipped off Bennett, who in turn tipped off Robbins, that Takeda Pharmaceuticals was planning to buy Cambridge-based Millennium for $8.8 billion. In February and March of that year, both Robbins and Bennett spent “tens of thousands of dollars” to buy Millennium call options as well as shares of stock. When the deal was publicly announced on April 10, 2008, Millennium’s stock shot up more than 48 percent, and Robbins sold off his shares that same afternoon for more than $1.12 million, according to the SEC. Bennett also sold his stock at a profit of $602,000.

The following year, the SEC charged that Allen again tipped off Bennett with inside information about the pending sale of Marlborough-based Sepracor to Dainippon Sumitomo Pharma Co. Ltd. for $2.6 billion. When that sale was announced, Robbins profited by $388,000 and and Bennett got $516,000 by selling stock they bought based on insider information, the SEC said.

Robbins will pay $865,000 in disgorgement and prejudgment interest and a $150,000 penalty in a settlement which “takes into account Robbins’s current financial condition,” the SEC said. The regulator said its cases against Allen and Bennett are ongoing, although they already have pled guilty in parallel criminal actions filed by the U.S. Attorney’s Office for the Southern District of New York.

According to the website, Movieline, “Playback (Fantastic Fist Blood)” only showed for one week in one cinema and earned $252 on opening night, with just one more person paying $12 to see it in the following week, after which it was pulled. The website said the movie was the lowest grossing film for the entire year. It is now available on-demand on Netflix and Amazon Prime.